Shares of sugar companies fall by up to 75% due to a sharp fall in prices
Share price of Riga Sugar is down 74 per cent to Rs 10.2 since its peak of Rs 39.9 in April last year.
Shares of sugar companies have fallen by up to 75 per cent over the past year, due to a sharp fall in prices of the commodity in physical markets.
Mills have been making distress sales since the beginning of the current season in October 2017 to clear farmers’ cane payment arrears. A minimum storage limit and lack of export initiatives have been other problems in coping with overproduction.
The share price of Riga Sugar is down 74 per cent to Rs 10.2 since its peak of Rs 39.9 in April last year. Simbhaoli Sugar, Mawana Sugars and Dwarikesh Sugar have lost 66.8 per cent, 65 per cent and 64.6 per cent since their respective peaks last year. Industry leader Bajaj Hindusthan posted a 46.5 per cent decline in its share price as of Monday, at Rs 10.08e. Shree Renuka Sugars has lost 31.2 per cent in stock value to Rs 15.4.
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